>>>My question is, can I rollover my 401(k) account into an IRA rollover account now even though I haven't left my company and am still contributing to it?<<<

You will need to find out what the specifics of the 401K plan allow. You will need to check with the plan trustee to find out. You can do this through your HR area. My guess is no which brings into consideration what to do next.

Maybe you can withdraw from the 401K and sit out the manditory period, but you may only be able to take out your contributions and not the companies.

Also if the company is matching your contribution, you need to consider what you will be losing by setting out.

An alternative may be to get the company to give you some other choices. No harm in asking, and you may be supprised at how willing they are to add some more.

Also, before you make any decision, invest in a little help from a good qualified CPA that understands this area of tax law. They are not easy to find since this is a relative new area and a difficult subject to understand.

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